BitCoin surpasses USD1000 mark

Bitcoin is growing from strengh to strengh in light of encouraging news from Washington lawmakers and recent growing popularity in China. As a resut the digital currency has smashed though the USD1000 mark on Mt.Gox.

The sharp rise in price comes less than two months after Bitcoin’s value plummeted to USD109 as a result of the FBI’s Silk Road coup. Founder of the deep-web online market place Ross Williams was arrested in Ulbricht. Nevertheless, the Silk Road raid has eventually led to bitcoin’s value rising.

Consequently, the virtual currency has been given a cautious thumbs up by various US government agencies at a Senate hearing this month. Bitcoin’s price responded to the news by jumping from less than USD500 to nearly USD750.

Over in Asia China is relaxing its regulatory environment as it further integrates into the global economy and this is encouraging rapid bitcoin uptake.

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